April 19, 2024 2:35 am
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Grocers could breathe new life into retail property market

Smart & FInal

Smart & FInalBy Esther Fung | The Wall Street Journal 

Plans for new stores from large grocery chains [such as Phoenix-based Sprouts] likely to spur new development

Grocery chain expansions are likely to spark robust construction in the coming years, analysts said, bucking the overall trend in retail development.

U.S. grocers Publix Super Markets Inc., Wegmans Food Markets Inc., Kroger Co. and Sprouts Farmers Market Inc. as well as German grocery chains Aldi and Lidl are opening new stores and will absorb an estimated 25 million square feet of space over the next five years, according to calculations from commercial real-estate brokerage and advisory firm Marcus & Millichap Inc.

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